MasterCard has announced major upgrades to its global authorisation processing platform, designed to simplify the approval of credit card transactions.
The upgrades – due to be in operational by late 2007, and fully rolled out by late 2009 – will allow banks around the world to process MasterCard authorisations through a single, common interface, making the process simpler and faster.
The changes are also designed to allow banks to adopt new payment technologies and increase their international operations without the need to adapt their own infrastructures.
The system will use “intelligent edge devices”, based locally at partner banks, to handle transactions at the edge of the network rather than requiring centralised processing by MasterCard's own systems. The development has been made possible by MasterCard’s introduction of new, standardised rules for authorising credit card transactions.
Roy Dunbar, president of MasterCard’s global technology and operations, said, “Through this standardised global authorisation platform, banks that have or are planning to have global extensions will be able to better aggregate and analyse transaction information.
“Our platform then enables banks to communicate better, as well as to customise transaction rules locally, such as when banks need to adjust processing to comply with local business regulations and practices.”
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